Principal Financial Group Inc. Sells 20,017 Shares of MetLife, Inc. $MET

Principal Financial Group Inc. lowered its stake in MetLife, Inc. (NYSE:METFree Report) by 3.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 609,132 shares of the financial services provider’s stock after selling 20,017 shares during the period. Principal Financial Group Inc.’s holdings in MetLife were worth $50,174,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of MetLife during the second quarter valued at about $756,104,000. ABN AMRO Bank N.V. bought a new stake in shares of MetLife during the second quarter valued at approximately $178,669,000. Amundi increased its stake in shares of MetLife by 40.2% in the 2nd quarter. Amundi now owns 4,507,362 shares of the financial services provider’s stock worth $361,265,000 after acquiring an additional 1,292,107 shares in the last quarter. Man Group plc lifted its holdings in shares of MetLife by 325.5% during the second quarter. Man Group plc now owns 1,344,551 shares of the financial services provider’s stock valued at $108,129,000 after purchasing an additional 1,028,554 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in shares of MetLife by 1,028.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 856,905 shares of the financial services provider’s stock worth $68,912,000 after acquiring an additional 780,955 shares during the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Trading Up 1.5%

MET stock opened at $78.07 on Thursday. MetLife, Inc. has a 12 month low of $65.21 and a 12 month high of $87.39. The firm’s 50-day moving average is $78.92 and its 200 day moving average is $78.84. The company has a market capitalization of $51.44 billion, a PE ratio of 14.70, a P/E/G ratio of 0.73 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.18 and a quick ratio of 0.18.

MetLife (NYSE:METGet Free Report) last posted its earnings results on Wednesday, February 4th. The financial services provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.20. The business had revenue of $18.61 billion for the quarter, compared to the consensus estimate of $31.43 billion. MetLife had a net margin of 5.30% and a return on equity of 21.00%. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. On average, research analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 3rd will be paid a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, February 3rd. MetLife’s payout ratio is presently 42.75%.

MetLife News Roundup

Here are the key news stories impacting MetLife this week:

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MET shares. Barclays set a $90.00 price objective on shares of MetLife in a report on Thursday, January 8th. UBS Group reduced their price target on MetLife from $95.00 to $94.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Keefe, Bruyette & Woods lowered their price objective on MetLife from $92.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Evercore ISI set a $97.00 price target on shares of MetLife and gave the stock an “in-line” rating in a research report on Tuesday, January 6th. Finally, Morgan Stanley set a $101.00 price objective on shares of MetLife and gave the stock an “overweight” rating in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, MetLife currently has an average rating of “Buy” and an average target price of $95.27.

Get Our Latest Stock Report on MetLife

About MetLife

(Free Report)

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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